Paluck Technologies, Complete Sports, Management SME IPOs open today. Here’s what GMPs indicate

Investors looking for opportunities in the SME IPO segment have two new issues to consider as Paluck Technologies and Complete Sports and Management open for subscription today, August 28, 2026. Both IPOs will be listed on the BSE SME platform, with bidding scheduled to remain open until September 1.

Interestingly, the two IPOs show a sharp difference in grey market sentiment. Paluck Technologies IPO commands a current GMP of around 52%, suggesting that grey market participants expect a strong listing performance. In contrast, the Complete Sports and Management IPO has no reported GMP, indicating muted expectations and the possibility of a flat listing.

Paluck Technologies is looking to raise Rs 33 crore, while Complete Sports and Management aims to raise significantly more at Rs 74.93 crore.

Paluck Technologies IPO: 52% GMP Raises Listing Expectations

Paluck Technologies IPO of Rs 33 crore consists entirely of a fresh issue of 68.76 lakh shares. The IPO opened for subscription on August 28, 2026, and will close on September 1, 2026. The share allotment is expected to be finalized on September 2, while the company is likely to make its debut on the BSE SME platform on September 4, 2026.

The IPO has fixed a price band of Rs 46 to Rs 48 per share. The application lot size is 3,000 shares. At the upper price band of Rs 48, a retail investor needs to invest Rs 2.88 lakh for two lots, or 6,000 shares. For HNI investors, the minimum application is three lots, or 9,000 shares, requiring an investment of Rs 4.32 lakh.

Horizon Management Pvt. Ltd. is the book-running lead manager, while Bigshare Services Pvt. Ltd. is the registrar to the issue.

Paluck Technologies SME IPO GMP Today: The Paluck Technologies SME IPO commands a GMP of Rs 25, or 52%, over its upper price band of Rs 48. Based on the current GMP, the IPO is estimated to list at around Rs 73 per share.

Paluck Technologies plans to use its IPO proceeds mainly to strengthen its operations and financial position. It will spend Rs 10 crore on new RMC machinery and DG sets, Rs 3.10 crore on repaying or prepaying borrowings, and Rs 10 crore to meet working capital needs.

Any remaining funds will be used for general corporate purposes. Overall, the company plans to utilise Rs 23.10 crore for these specific objectives.

Incorporated in April 2010, Paluck Technologies is a diversified engineering and infrastructure support company with operations spanning several segments. Its business includes automobile and engineering services, construction equipment rentals, logistics and fleet management, and telecom engineering services.

The company traces its origins to 2009, when it began as a proprietorship offering diesel generator services. Since then, it has expanded into multiple infrastructure and engineering businesses. Paluck Technologies provides concrete transportation, equipment rental, RMC plant setup and logistics services through a fleet of more than 190 specialised vehicles operating across key regions in India.

The company also provides telecom engineering, operations and maintenance services across more than 7,500 sites. In addition, it operates authorised service centres and dealerships for various OEMs. As of February 28, 2026, the company had 192 employees.

Complete Sports and Management IPO: Rs 74.93 Crore Issue Opens Today

The second SME IPO hitting the market today is Complete Sports and Management India. The company is looking to raise Rs 74.93 crore through a book-built issue. Like Paluck Technologies, the issue consists entirely of a fresh issue, comprising 0.56 crore shares.

The IPO will remain open from August 28 to September 1, 2026. The allotment is expected on September 2, followed by a tentative BSE SME listing on September 4. The price band has been fixed at Rs 128 to Rs 135 per share, while the application lot size is 1,000 shares.

At the upper price band, retail investors need to invest a minimum of Rs 2.70 lakh for 2,000 shares, or two lots. HNI investors need to apply for at least three lots, equivalent to 3,000 shares, requiring an investment of Rs 4.05 lakh.

Smart Horizon Capital Advisors Pvt. Ltd. is the book-running lead manager, while Bigshare Services Pvt. Ltd. is the registrar.

The company has already raised Rs 21.32 crore from anchor investors, with the anchor bidding taking place on August 27, 2026.

Complete Sports and Management plans to deploy the majority of its IPO proceeds towards capital expenditure. Of the estimated Rs 59.47 crore earmarked for the specified purposes, Rs 39.88 crore will be used to purchase gaming and other capital equipment, including computers, printers, software, tools, CCTV and safety equipment for its existing warehouse in Bhiwandi, Maharashtra. Rs 8.09 crore will be used to establish the ‘Duckpin – The Bowling Bistro’ entertainment centre in Mumbai. Rs 11.50 crore will go towards repayment or pre-payment, either fully or partially, of certain outstanding borrowings from banks and financial institutions. The remaining amount will be used for general corporate purposes.

Incorporated in 2002, Complete Sports and Management India is involved in the sourcing, trading and distribution of amusement and leisure equipment. The company also provides installation, commissioning, maintenance and consulting services, giving it exposure across the broader amusement, entertainment and leisure infrastructure ecosystem.

Its business model covers multiple stages of the entertainment infrastructure value chain, allowing it to provide end-to-end solutions for customers developing and operating entertainment destinations.

Paluck Technologies vs Complete Sports and Management IPO

The two IPOs offer investors exposure to very different businesses. Paluck Technologies operates across engineering, infrastructure support, equipment rental, logistics and telecom services, while Complete Sports and Management is focused on amusement, entertainment and leisure equipment and infrastructure.

From a listing perspective, however, the biggest difference currently comes from the grey market. Paluck Technologies is reportedly trading at a GMP of around 52%, whereas Complete Sports and Management has no reported GMP.

This suggests that grey market sentiment is considerably stronger for Paluck Technologies ahead of its proposed September 4 listing. However, GMP is unofficial, can change rapidly, and should not be treated as a guaranteed indicator of listing gains or future performance.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)